NEWSROOM

Nochex to support V.me by Visa

Friday, July 11 2014

LEEDS | Nochex, a UK-based Payment Service Provider, has become the latest to support the V.me by Visa digital wallet service to its e-commerce merchant base. V.me by Visa is the first pan-European digital wallet service to be offered by banks and financial institutions.

Visa's Digital Wallet

V.me by Visa is designed to increase consumer confidence in online shopping and reduce the proportion of sales that are abandoned during the checkout process. The V.me by Visa service enables consumers to store multiple payment cards in one digital wallet. When shopping at V.me by Visa accepting online merchants, consumers are then able to make secure online payments without entering any card details or having to enter their shipping address over and over again. Upon checkout, the consumer clicks the V.me by Visa checkout button, simply logs-in with their email address and/or password (depending on the shopping device used) and clicks 'pay'.

V.me by Visa uses existing Visa transaction rails

For online shops and app developers V.me by Visa offers a checkout solution supposed to drive conversion rates and to create an improved shopping experience. Merchants capable of integrating or using V.me by Visa can process these Visa debit or credit payments over their existing processing route and merchants account. Merchants using a payment service provider or payment gateway and holding an acquiring relationship for the acceptance of Visa transactions, depend on the speed of V.me by Visa integration of their payment providers.

Attractive alternative payment option

"Nochex is very pleased to confirm that V.me is completely integrated into the Nochex payment service providing another attractive alternative payment option for Nochex' retailers throughout the UK. Online shoppers want to be able to make their purchases quickly and safely, and integrating V.me with our existing capabilities is another important step forward," said Martin Greenbank, Chief Executive Officer, Nochex. "We’re delighted to welcome Nochex to the list of PSPs supporting V.me by Visa," said Wendy Martin, Executive Director of V.me by Visa. "Their support will help us make V.me by Visa available to an even wider range of merchants and retailers in the UK."

470 million Visa cards in Europe

There are 470m Visa cards in Europe while €1 in every €6.75 spent in Europe is on a Visa card. Almost 80% of Visa Europe's business is on debit cards and, in the year to December 2012, over €1 trillion (1.05tr) was spent on Visa debit cards. Annual online spending on Visa cards in Europe topped €200 billion (€212bn) for the first time in this period and now accounts for more than 20% of Visa Europe’s processed business.

Nochex Profile

Nochex is a UK-based provider of online payment solutions. Trusted by businesses and consumers around the world to process millions of pounds each year, small, medium and micro-sized enterprises use the Nochex payment solution to simplify how they accept and settle online credit card and debit card payments. The Nochex payment service helps businesses to start trading quickly and safely. Being an independent provider has allowed the company to support tens-of-thousands of merchants around the UK across a wide range of industries. Nochex Ltd is a private company. Click here for more information about Nochex.